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Data for today’s episode is provided by Mercator Advisory Group’s report – Behaviors of Mobile-Enabled Consumers Complicate the Meaning of “Going to the Store.”
7 stats on In-Store Shopping, modified by mobile use:
- As of 2019, 85% of U.S. adults own a smartphone – 94% of adults aged 18-34
- 65% of smartphone owners check competitor pricing while in store
- 47% of consumers made a mobile purchase while in store in 2019
- 62% of smartphone owners do product research in-store in 2019
- 54% of smartphone owners read product reviews while in store in 2019
- 56% of shoppers seek in-store discounts by searching on their phone
- 49% of shoppers have checked the retailers shopping app for discounts while in store
When card-not-present makes the customer-not-present, what is the function of a store?
Consumers armed with smartphones first disrupted brick-and-mortar retail by comparison shopping while in-store. Now nearly 1 in 3 U.S. adults who comparison shop in-store end up purchasing elsewhere. Buy-online-pickup-in-store services shorten shoppers’ store visits to fleeting appearances. From electronic price tags to “dark stores,” retailers seek the right store capabilities to retain and serve their mobilized customers.